Posted on 11/09/2008 4:57:34 AM PST by Perdogg
I am already getting angry after reading the first 14 pages. I had I started this book before election day I might have stayed home.
One question: The stockmarket fell on October 28th, 1929, from 299 to 261, then from 261 to 230 on October 29th, 1929. Why was this considered a crash?
"As soon as A observes something which seems to him to be wrong, from which X is suffering, A talks it over with B, and A and B then propose to get a law passed to remedy the evil and help X. Their law always proposes to determine what C shall do for X, or in the better case, what A, B, and C shall do for X.... [W]hat I want to do is to look up C.... He is the man who never is thought of."
"The type and formula of most schemes of philanthropy or humanitarianism is this: A and B put their heads together to decide what C shall be made to do for D. The radical vice of all these schemes, from a sociological point of view, is that C is not allowed a voice in the matter, and his position, character, and interests, as well as the ultimate effects on society through C's interests, are entirely overlooked. I call C the Forgotten Man."
William Graham Sumner - 1883
ping
Yes, I read it cover to cover. Excellent book. Hoover already was from the moderate wing of the Republican Party (why does he remind me of GWB) and the first thing he did was cut off all foreign trade and raise taxes. The Federal Reserve tightened the currency as well, though there was already huge deflation.
FDR had quite a radical agenda after he was elected and wasn’t able to end the Depression until we entered World War II. Why he was considered a great President, I have no idea. He was an amazing communicator, of course. The media loved also loved him for obvious reasons, he was an ultra-liberal.
EVERY FREEPER SHOULD READ THIS THIS BOOK.
CAPS intended as a way to emphasize my suggestion.
It’s amazing how history repeats itself.
Yes, I am reading it now. and I was also struck by the Sumner quote.
I have only gotten to the point where Tugwell and the other “brain-truster” types have sailed for the Soviet Union to observe its wonders. My impression is that Shlaes is providing a “warts and all” picture, in which Roosevelt floundered helplessly around in the face of the Depression and may only have made it worse.
I now see history preparing to repeat itself.
I haven’t read it but I heard her interviewed on the radio and really appreciated the historical account. It is a must read so I’ll put it on my list. I’d forgotten about it. Thanks for the reminder.
I am reading it now. I am in chapter 4. It is interesting to see some of the parallels to today. Kind of scary actually.
Obama reminds me of FDR, in that he clearly wants to impose Western European style socialism on the United States.
I do believe his first goal is to provide nationalized health-care, and he probably has the votes in Congress to do it.
Let's not forget that during the war years he de facto suspended the 1st amendment. I'm sure the perception of President Bush and the war in Iraq would be far different if the media were told what they could say.
I don't think there is a strict economic definition for a stock market crash. Having said that, in two days the stock market lost 69 points (using your data) or about 22% of its value. That by all counts, is a steep sell off. Of course, the market went much lower and took many years to recover.
My feeling is that conservatives have carried far too much water for George W. Bush, and that is the reason we are in today’s situation.
Look, this guy was a patriot on foreign affairs...he's kept us safe, something the messiah will not do. We owe W a great debt of gratitude. That said, W was a disaster on domestic issues. We now owe 10 TRILLION dollars, 5 Trillion because of his lack of interest in controlling the GOP controlled House and Senate. What a disaster.
If you read the book, Amity says that FDR was re-elected in 1940 and 1944 because of the war and because of the GOP’s idiotic stand on it. FDR was elected 1936 because he discovered if you put people on the dole, they will vote for you over and over.
That would largely depend on how you defined "ending the Depression", since the stock market did not recover to pre-October 1929 values until sometime in 1955, the year I was born, and 10 years after WW2 was over with....
the infowarrior
One of these days we will realize that the War in Iraq was a real disaster.
Maybe if we had overthrown Saddam and then immediately left the country.
Conservatives who think that the Iraqis are happy with what America did in Iraq or are grateful in any way, are in denial.
Sometimes the American people aren’t as dumb as some conservatives might think.
If you read the book, Amity says that FDR was re-elected in 1940 and 1944 because of the war and because of the GOP’s idiotic stand on it.
I have no idea what you are talking about. Wendell Wilkie was a stronger advocate of helping England and the allies than FDR was.
And most Russians aren’t happy that communism fell in Russia it seems. That free rent thing is a hard thing to get over.
My wife is reading it right now & providing me with a running commentatry. It sound eerily like what we are currently experiencing with the takeover of Wall St. by government & Zero’s election. It could be his blueprint for “change”.
The next 4 years (at least) are gonna suck rocks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.